Date: Tuesday 28 Jan 2014
LONDON (ShareCast) - Marine Services business James Fisher and Sons on Tuesday announced the acquisition of the entire share capital of Subsea Vision.
The firm, which was bought for £2.5m, owns and operates remotely operated vehicles (ROV) providing underwater surveys, inspections and construction which support to the oil and gas.
Based in Dorset and established in 2002, Subsea Vision currently has five ROV systems in its fleet.
Profit before tax in the year to March 31st 2013 was £0.4m, while net assets totalled £0.7m.
Chief Executive Officer Nick Henry said: "The acquisition of Subsea Vision is a further step in our growth, providing niche specialist services for the offshore energy sector."
NR
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